GSTN has enabled a new functionality in the GST Portal 

Comparison of Liability declared and ITC claimed enabled in GST Portal —The Goods and Service Tax Network (GSTN) has enabled a new functionality in the GST Portal “Comparison of Liability declared and Input Tax Credit claimed” What is Comparison of Liability declared and Input Tax Credit claimed The statement is called as Credit and Liability …

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What is Letter of Undertaking (LUT) and How to Renew ?

Under GST Law, Export of goods or services can be made without payment of integrated tax under the provisions of rule 96A of the Central Goods and Services Tax Rules, 2017 (the CGST Rules). Under the said provisions, an exporter is required to furnish a bond or Letter of Undertaking (LUT) to the jurisdictional Commissioner …

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What is the Legal Entity Identifier (LEI) code ?

 A Legal Entity Identifier (or LEI) is a 20-character identifier that identifies distinct legal entities that engage in financial transactions. Which Company Required LEI Code ? It has been decided to require banks to make it mandatory for corporate borrowers having aggregate fund-based and non-fund based exposure of Rs 5 crore and above from any …

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Types of Audits under the Companies Act, 2013.

1) Statutory audits 2) Internal audits 3) Cost Audit 3) Secretarial Audit Statutory audits Who can conduct the audit – Statutory  audit has to be conducted by a Chartered Accountant or a firm of Chartered Accountant. Scope of Audit – Audit of the financial record and statement of the company. Auditor is required to comply with Auditing Standards …

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